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What goes down can stay down, so said the Central Bankers in key financial markets around the world as they continue to keep global interest rates artificially low

All eyes were on the Hole at the end of the month; not the European hole that is being dug deeper and deeper, nor the sort that is the other great USA v Europe head to head, the Ryder Cup but Jackson Hole where Chairman of the Federal Reserve, Ben Bernanke was pointing the way ahead

With the UK in recession, the continued threat from the Euro region and the USA still sluggish, it is no surprise that interest rate rise expectations have all but disappeared in the near term